Joint venture plans a $120 million office tower in McLean

The Washington Business Journal reports that a joint venture, including Washington, D.C.-based MRP Realty, plans a new $120 million office tower in McLean. The group plans to break ground by the end of the year, since a tenant in the project has agreed to take an equity role in the 300,000-square-foot building.
According to the Journal, nonprofit government consultant LMI has agreed to buy the lower six floors at 7940 Jones Branch Drive for a new headquarters location. Currently, offices are located at 2000 Corporate Ridge in Mclean. Terms of MRP’s stake in the building were not disclosed. Rockpoint Group is also part of the joint venture